Contrary to what the government has been asserting over the past few months, the proposed budget for Fiscal 2015 will not be a balanced one because it is not factoring in sufficient appropriations to cover bond interest payments due, the Center for a New Economy said Wednesday.
New research released Wednesday by Connect Puerto Rico shows that broadband availability at speeds of at least 50 Mbps download/1.5 Mbps upload available in Puerto Rico has more than tripled from 24.3 percent in October 2013 to 76.9 percent in April 2014, excluding mobile wireless services.
Some 10,000 low- and moderate-income families residing in Puerto Rico stand to benefit from the “Ahorro Hipotecario” program, which offers mortgage-refinancing opportunities through the Housing Finance Authority, Gov. Alejandro García-Padilla said Tuesday.
The U.S. Small Business Administration and the Puerto Rico Professional College of Engineers and Land Surveyors (CIAPR by its Spanish acronym) will conduct on Tuesday their 10th annual “Business Matchmaking Event” to pair small firms with federal government agencies seeking vendors.
Puerto Rico Gov. Alejandro García-Padilla presented Tuesday a budget that includes about $1.4 billion in cuts, including the elimination of 23 agencies and about 100 schools, among other “rational uses of public funds.”
A workgroup comprising public and private sector representatives handed Gov. Alejandro García-Padilla a report containing 34 recommendations Sunday to tackle Puerto Rico’s low labor participation rate, brain drain, the aging population and the underground economy.
General Fund collections for the month of March totaled $785 million, down 9.7 percent when compared to the $1 billion on record for March 2013.
The Center for Empowerment and Free Enterprise at the Universidad del Este in Carolina signed several collaborative agreements with private-sector organizations, the government and communities, to spur job creation in Puerto Rico, college officials announced Wednesday.
Two executives who own the Bora Bora and Flamers retail establishments are facing 36 counts of tax evasion and illegal appropriation of public funds for failing to remit more than $1.2 million in sales and use tax money collected between 2009 and 2012, according to the findings of a joint investigation by the Puerto Rico Justice and Treasury Departments.
A group of Code for America (CfA) programmers will be helping the Puerto Rican government develop tools to address the island’s civic needs, CIO Giancarlo González and Science, Technology and Research Trust Executive Director Iván Ríos-Mena announced Thursday.
Ingrid Vila Biaggi, chief of staff to Puerto Rico Governor Alejandro García-Padilla, announced today that a balanced budget for the 2014-2015 fiscal year will be introduced in the coming weeks.
The Puerto Rico Public Private Partnership Authority recently announced the appointment of several advisory firms for key projects in the pipeline, namely, the commuter train from Caguas to San Juan, a new women’s correctional facility, a new men’s correctional facility, and the conversion to natural gas of the Puerto Rico Electric Power Authority plants.
I was glad to see the story on H. Calero’s views on the IT industry. The communications and information technology (C&IT) industry has been the focus of attention in a number of studies at least going back to the 1999-2000 A.D. Little/Estudios Técnicos Inc. study on S&T based economic development strategies.
Seaborne Airlines announced Wednesday it has reached agreement with the Commonwealth of Puerto Rico to relocate its corporate headquarters from St. Croix in the U.S. Virgin Islands to San Juan as part of a multi-faceted arrangement that calls for a $16 million investment from the government, officials announced Wednesday.
Puerto Rico’s declining population, rapidly aging workforce, significant fiscal pressures and subsequent policy measures have combined to prompt a reduction in the government’s workforce over the past five years by as many as 55,000 jobs, or almost 20 percent of the public sector’s workforce.
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